UAE, India have further strengthened relations, says BJP spokesperson
Jacob Joby Varghese, director development, Shapoorji Pallonji; Ashish Mehta, founder & managing partner, Ashish Mehta & Associates; Swaminathan Aiyar, renowned economist; Paromita Chatterjee, consulting editor, ET NOW; BJP spokesperson Sambit Patra; and Kamal Gupta - chief operating officer, Global Schools Foundation, Singapore in Dubai.
Dubai - Patra was speaking at the second Emerging India Forum 2017, which drew over 250 of the most influential and industry stalwarts from various sectors.
Strong relations between countries will help them survive in uncertain economic times, Sambit Patra, the national spokesperson from the BJP, recently said.
"In this uncertain economy, we need to forge strong relationships such as the Indo-UAE ties. India-UAE relations have been historically existent and it has only become stronger with the visit of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. $75 billion investment fund agreements in infrastructure, oil & gas, energy, manufacturing, and services have been signed between the countries earlier this year," said Patra.
Patra was speaking at the second Emerging India Forum 2017, which drew over 250 of the most influential and industry stalwarts from various sectors. The event kicked off with an inaugural note by Naveen Chandra, head of international business at Times Network; followed by the key note speech by Tim Fox, group chief economist & head of research at Emirates NBD. Khaleej Times was the media partner at the event and an editorial representative was present for the first panel discussion.
Fox emphasised on the longstanding relationship between India and UAE, saying: "The linkages between the UAE and India in the fields of trade, business, and finance are very strong, longstanding, and most importantly growing, especially as they are benefiting from a relationship being deepened at the very highest levels between the two countries."
Speaking on the future investment opportunities in India, Gary Dugan, chief investment officer of wealth management at Emirates NBD, said: "The developed world faces many challenges in the coming years, which will only highlight more starkly the quality and scale of the investment opportunity in India. If the Indian government can continue to enhance through reform, the young population and spirit of entrepreneurship there will be good years ahead for the Indian economy and asset markets."
"There is a no productivity growth happening in the world today. Only the top 10 per cent of the economy benefit from this increasing productivity and the common man does not benefit in any way. Jobs that used to exist are non-existent these days. For the economies to grow, more jobs need to be created. Everyone wants to get themselves a college degree to get white collar jobs. No one wants to do blue collared job. But the economy cannot survive this way," noted Swaminathan Aiyar, economist and consulting editor, Economic Times.
The session concluded with the thought that through strong relationships between countries and by tapping on each other's strengths, the economy can survive any unforeseen situations. It was also concluded that India needs to invest in its local people like how the UAE invests in their local Emiratis. The right education, skill and training have to be provided for the country to prosper. In addition, transparency in the system will result in confidence, hence attracting more businesses and investments.